1 What will be the monthly payment on a home mortgage of $75,000 at 12% interest compounded month Multiple Choice $771.46 $775.90 $1,028.61 $1,034.53 < Prev 21 of 30 Next >
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To do this, divide the annual interest rate by 12 (the number of months in a year). 12% divided by 12 = 1% or 0.01 (as a decimal). Show more…
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